Uruguay reported a trade deficit of 1.38bn dollars in the twelve months to April

Beef and soy beans remain the main export items although the most dynamic has been dairy produce

Uruguay’s goods’ foreign trade in the twelve months to April 2014 reported a deficit of 1.38 billion dollars with exports totaling 10.42 billion and imports 11.185bn, according to the country’s Chamber of Industries Economic Studies Unit based on data from Customs.

Exports were made up of 9.3bn according to Uruguay’s Customs and climbed to 10.426bn by adding overseas sales from the country’s free trade zones (once deducted Uruguayan inputs to those industries and other costs).

Imports registered by Customs reached 11.185bn dollars in the last twelve months to April, and if free trade zones and other adjustments are included the total actually drops to 11.811bn dollars.

However in the first four months of the year exports reached 2.858bn dollars, a slight 3% increase in value over the same period a year ago, In volume they actually dropped 0.7%.

The Chamber of Industries against underlines the excellent performance of dairy exports which totaled 317 million dollars in the four months, having increased 27% over the same period a year ago, mostly in value because of the strong demand for milk and cheese.

Two other leading items of Uruguayan exports, beef and soy beans on the other hand dropped 3% and 5% respectively compared to the same period a year ago.

Main export markets remain Brazil which absorbed 17.9% and China 15.6% of overseas sales. As to imports partners are the same but with China supplying 16.6% and Brazil 15.6%.

Top Comments

Ok enough with the statistics.
All I can think about is turning those over fed cattle into an asado!
mmmmmm... Vacio, costillas, lomo!!

May 22nd, 2014 - 01:20 am 0

ChrisR

And this is news?

When you have 50% import tax on everything (100% if personal import) PLUS IVA @ 22% on top of everything, including the import tax then the import total is bound to be high, but most of it goes in tax to the government!

The reality is there is no serious manufacturing in Uruguay, again because of taxation and “licensing fees” every six months to cover the “necessary inspections”, etc. I thought running a business was a chore in the UK, but it was child’s play compared to Uruguay.

Plus of course the labour pool is unskilled in the extreme and can only manage menial jobs which means you have to train them up and put up with the fact they will only turn up when it suits them.